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Industrial Policy in the Twenty-First Century

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  • Weiss, John

Abstract

Industrial policy has attracted considerable controversy in the development context. This paper makes a case for a pragmatic and limited approach to interventions as a means of stimulating industrialization in the context of current and future challenges facing newly industrializing economies. It begins with a simple definition of industrial policy, a brief survey of the theoretical case, and a taxonomy of different possible interventions. Recent empirical evidence on the role of industrialization in development is examined, whilst considering how far government policy per se has contributed to manufacturing success. Finally, a series of key issues for today.s industrializing economies that industrial policy needs to address are highlighted.

Suggested Citation

  • Weiss, John, 2011. "Industrial Policy in the Twenty-First Century," WIDER Working Paper Series 055, World Institute for Development Economic Research (UNU-WIDER).
  • Handle: RePEc:unu:wpaper:wp2011-55
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    File URL: http://www.wider.unu.edu/sites/default/files/wp2011-055.pdf
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    References listed on IDEAS

    as
    1. Poonam Gupta & Rana Hasan & Utsav Kumar, 2008. "What Constrains Indian Manufacturing?," Macroeconomics Working Papers 22162, East Asian Bureau of Economic Research.
    2. Hausmann, Ricardo & Rodrik, Dani, 2003. "Economic development as self-discovery," Journal of Development Economics, Elsevier, vol. 72(2), pages 603-633, December.
    3. Lall, Sanjaya & Albaladejo, Manuel, 2004. "China's Competitive Performance: A Threat to East Asian Manufactured Exports?," World Development, Elsevier, vol. 32(9), pages 1441-1466, September.
    4. Marcus Noland & Howard Pack, 2003. "Industrial Policy in an Era of Globalization: Lessons from Asia," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 358.
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    Cited by:

    1. Josif Iliev, 2014. "The process of reindustrialisation – a strategic challenge to national economy," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 3-14,15-25.

    More about this item

    Keywords

    industrialization; government; trade; protection; productivity; exports;

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